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Shadow Tree Apartments Sell for $5.2M

Investment Group Buys 1800 Billings in Aurora
By Diana Parkison
July 1, 2004 | 7:37 P.M.

Margarita M Salsado and Cecil E Hart 6th Family LP purchased the 86,916-square-foot apartment complex at 1800 Billings St. in Aurora, CO for $5.2 million or about $44,444 a unit in a 1031 exchange. The Shadow Tree Apartments consists of 117 units total; 41 of which are one-bedroom/one bathroom units and 76 that are two-bedroom/one bathroom units. The building was 87% leased at the time of the purchase and featured an 8.08% cap rate.

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